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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (8230)	2/9/2000 3:43:00 PM
From: Cynic 2005	Read Replies (2) \| Respond to of 42523

Gang, I know I am supposed to be posting less. But this news item caught my attention so much I am just putting it across. This morning I PMed MythMan something: <To: MythMan (who wrote...) From: Mohan Wednesday, Feb 9 2000 12:45PM ET ...The 10 year bonds are telling what the bond guys are thinking. Good for them that Summers screwed-up with his announcement on the long bond. He can not retract on his statement now and say that in addition to the 30 yrs, the treasury will be buying 10 yrs and 5 yrs as well. That will be clear admittance that they are trying to talk and manipulate the bond market up. >> Boy I was wrong about Summers being not in a position to say that. He is now a politician, not a professor at Harvard. Did you read what he said? <<''Summers came out and said a few minutes ago that the U.S. would use all maturities to hold down borrowing costs and the market is interpreting that to mean that the Treasury will buy back securities across the curve, not just in the 30-year, so a lot of curve trades are being unwound,'' said the head trader at a primary dealer, referring to trades that had been placed on the assumption that the yield curve inversion would be extended.>> biz.yahoo.com Summers is a big joke. I think he is playing with fire. May be he gave us what we need - a complete lack of faith in US government. I certainly hope this is THE catalyst we need.